12:22 PM EDT, 03/26/2026 (MT Newswires) -- US equity indexes declined in midday trading Thursday after President Donald Trump warned Iran to "get serious" in working out a peace deal with Washington, raising the stakes for Tehran if it attempts to drag the war.

The Nasdaq Composite dropped 1.3% to 21,654.1, with the S&P 500 down 0.9% to 6,530.8, and the Dow Jones Industrial Average 0.6% lower at 46,145.7.

Iran reportedly confirmed it is reviewing a US 15-point proposal but rejected immediate talks. The Foreign Ministry stated that conflict will only end on Tehran's terms, demanding war reparations and recognized sovereignty over the Strait of Hormuz before any formal negotiations begin.

Trump called upon Iran to work on a ceasefire deal with the US, according to a Thursday post on Truth Social. "They better get serious soon, before it is too late, because once that happens, there is NO TURNING BACK, and it won't be pretty!"

West Texas Intermediate crude oil futures jumped 4.1% to $94.11.

"Based on some data, Iran's enemies, with the support of one of the regional countries, are preparing to occupy one of the Iranian islands," Iran's parliament speaker, Mohammad Bagher Ghalibaf, said in a Wednesday social media post on X, formerly known as Twitter. "All enemy movements are under the full surveillance of our armed forces."

Most US Treasury yields advanced, with the 10-year up 5.2 basis points to 4.38% and the two-year higher by 5.8 basis points to 3.94%.